Civitas Resources, a natural gas liquids firm, recently released its first Corporate Sustainability Report, which highlights the company's environmental and social accomplishments until 2021, describes its governance structure, and sets forth future ambitions.

Civitas' major stakeholders — investors, regulators, employees, and communities — expect the company to excel in sustainability to effectively negotiate the transition to a low-carbon economy and maintain its social licence to operate as a top-tier energy producer in Colorado.

To maximise transparency as a best practice, this inaugural report was created using three different climate disclosure frameworks: the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosures (TCFD), and the American Exploration and Production Council (AXPC).

To stay on top of future yearly reporting priorities, the company will analyse the climate disclosure framework landscape and evolving market, regulatory, and shareholder expectations annually.

Ben Dell, Civitas Chairman of the Board, said:

"It is with great pride that I introduce Civitas Resources’ inaugural Sustainability Report. Civitas represents the coming together of four Colorado energy companies with extensive operating histories in the DJ Basin, who now share a single commitment to safe operations, the environment, and the communities in which we operate. In a short period, Civitas has distinguished itself among exploration and production companies as an ESG leader with ambitious objectives."

Source: yahoo!finance